Published September 26, 2025
So far at least, the presumed negative impacts of the Trump Administration’s tariff policies have not materialized. GDP for the third quarter is projected to be above +3%, a healthy economic growth level. While inflation remains higher than hoped for, it has not accelerated to the upside as some predicted. The doom and gloom purveyors keep having to push out their negatives into some future time.
Why is this the case? How can so many market and economic analysts get it wrong? We think the stock market has been a big part of the answer.
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